Nigeria’s foreign exchange (FX) reserves saw an increase of $621.2 million within 10 days, thanks to the successful sale of a domestic dollar bond, according to data from the Central Bank of Nigeria (CBN).

The reserves grew from $36.24 billion on September 2, 2024, to $36.87 billion by September 12, 2024, highlighting the positive impact of the bond sale. A steady increase occurred throughout the period, with a notable $250 million surge over the weekend of September 6-9. The largest single-day rise happened between September 11 and September 12, when reserves spiked by $54.4 million, signaling strong demand for the bond and increased liquidity in the financial system.